Means more room for humans. We're succeeding as a species. I suspect it wont end well for us though.
I don't see any reason to believe it will end badly, at least not for reasons related to this issue.
Homo Sapiens has proven to be an extraordinarily adaptable and successful species, a global superpredator, which has inevitably displaced many other species. The Holocene Extinction, which has been in progress for thousands of years, is the result. The rate of extinctions accelerated dramatically in the last few centuries, particularly as the human population has exploded.
However, in the last few decades humans have become aware of the issue and have begun to care about it. This isn't to say that we'll ever value other species as highly as our own, but we've begun to think that it's important to avoid destroying them. That coupled with the fact that human population is likely to peak within 30 years and then begin declining and the fact that new technology is enabling us to tread more lightly means that extinctions directly produced by human activity (e.g. habitat expansion) will slow and perhaps cease.
Indirectly-caused extinctions will likely continue for millenia, though. Global warming is going to do in a lot of species (though it may create a good number as well), as climate shifts exceed the ability of species to migrate. It may also provoke some more directly-caused extinctions as it causes humans to migrate. Not much, though, since we already live pretty much everywhere. The accommodation of human-transplanted "invasive" species is also going to take a lot of time, and transplantation is probably going to continue as much as we try to avoid it, so there's going to be a sort of homogenization effect across the globe which will wipe out a lot of species as more aggressive and capable species get moved into their area. If humans choose to begin engineering planetary climate and stabilize it, so that it stays permanently within a particular range, that large driver of new speciation will be eliminated which will also contribute to the establishment of an equilibrium that will likely contain many fewer species than the planet has had for most of life's history upon it. It's also possible that we'll begin engineering biodiversity as well. That's hard to say.
Or maybe we'll have a massive nuclear war, simultaneously removing ourselves from the picture, ending the Holocene extinction with a spike, and kicking off an explosive new round of speciation. I think that and similar humanity-caused, humanity-ending disasters are unlikely, but I am an inveterate optimist.